Keefe, Bruyette & Woods Has Lowered Expectations for WSFS Financial (NASDAQ:WSFS) Stock Price

WSFS Financial (NASDAQ:WSFS - Free Report) had its price target reduced by Keefe, Bruyette & Woods from $66.00 to $64.00 in a research note issued to investors on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the bank's stock.

Separately, Stephens restated an "overweight" rating and set a $64.00 price objective on shares of WSFS Financial in a research note on Monday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $62.75.

WSFS Financial Stock Performance

Shares of NASDAQ:WSFS traded up $1.33 on Monday, hitting $53.30. 213,896 shares of the company were exchanged, compared to its average volume of 295,178. The firm has a market capitalization of $3.09 billion, a P/E ratio of 12.06 and a beta of 0.90. The company has a current ratio of 0.83, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. WSFS Financial has a 1-year low of $42.21 and a 1-year high of $62.75. The stock's 50 day moving average price is $50.66 and its 200 day moving average price is $53.63.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The bank reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.09. WSFS Financial had a return on equity of 10.30% and a net margin of 18.77%. The business had revenue of $256.11 million for the quarter, compared to the consensus estimate of $235.44 million. During the same quarter in the previous year, the business earned $1.11 EPS. The company's quarterly revenue was up 1.7% compared to the same quarter last year. Sell-side analysts predict that WSFS Financial will post 4.47 EPS for the current year.

WSFS Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.28%. This is a positive change from WSFS Financial's previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, May 9th. WSFS Financial's dividend payout ratio (DPR) is 15.28%.

Insider Buying and Selling at WSFS Financial

In related news, CEO Rodger Levenson sold 7,199 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $55.20, for a total value of $397,384.80. Following the completion of the transaction, the chief executive officer now directly owns 142,780 shares in the company, valued at $7,881,456. The trade was a 4.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC increased its stake in shares of WSFS Financial by 110.8% in the 3rd quarter. Barclays PLC now owns 120,397 shares of the bank's stock valued at $6,139,000 after purchasing an additional 63,284 shares in the last quarter. Wilmington Savings Fund Society FSB raised its stake in shares of WSFS Financial by 18.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 57,558 shares of the bank's stock worth $2,935,000 after buying an additional 8,763 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of WSFS Financial by 819.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 254,616 shares of the bank's stock valued at $13,528,000 after buying an additional 226,933 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in WSFS Financial in the 4th quarter valued at $207,000. Finally, KBC Group NV lifted its holdings in WSFS Financial by 68.4% during the fourth quarter. KBC Group NV now owns 2,885 shares of the bank's stock valued at $153,000 after purchasing an additional 1,172 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company's stock.

WSFS Financial Company Profile

WSFS Financial Corporation operates as the savings and loan holding company for the Wilmington Savings Fund Society, FSB that provides various banking services in the United States. It operates through three segments: WSFS Bank, Cash Connect, and Wealth Management. It offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as accepts jumbo certificates of deposit from individuals, businesses, and municipalities.